Obama Plays Down Rift Over Economy on Eve of Summit

But despite calls for unity from Mr. Obama and the British prime minister, Gordon Brown ”” the host of the Group of 20 meeting that formally begins Thursday ”” the French and German leaders held a joint, and combative, news conference to underscore their differences with the Anglo-American approach to the crisis.

While President Nichoals Sarkozy of France did not repeat an earlier threat to walk out of the conference ”” “I just got here,” he joked ”” he made it clear he would reject an agreement that puts off stringent new regulations on banks, tax havens, and hedge funds.

“The decisions need to be taken now, today and tomorrow,” Mr. Sarkozy said. “This has nothing to do with ego. This has nothing to do with temper tantrums. When it comes to historic moments, you can’t circumvent them.”

Read it all.

print

Posted in * Economics, Politics, * International News & Commentary, Economy, Europe, France, G20, Germany, Office of the President, Politics in General, President Barack Obama, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--